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MIOTA · 2w

Iota staking introduction explained in short

All information can be found on: TL;DR: IOTA is introducing staking to all IOTA token holders. Stake your IOTA tokens and earn staking rewards from token airdrops. By staking your IOTA tokens you are helping to launch new token economies and in return earn rewards from the newly minted tokens of upcoming networks and applications in the IOTA ecosystem – starting with the Shimmer network. Staking isn't released yet, once it's released this is how to start staking IOTA. Staking IOTA tokens is done through a simple transaction within the Firefly wallet to indicate to the network the beginning of the participation in staking tokens. All nodes in the IOTA network using the new staking plugin can recognize and process staking information, record them individually and calculate rewards associated with any IOTA addresses on which staking has been activated. What is staking on IOTA? In comparison to a Proof of Work system, Proof of Stake (POS) blockchains are secured by token holders who actively participate in the consensus by staking their tokens. POS helps to pick a winner from a set of validators to assign important tasks, such as block production, for which rewards are distributed. Usually, the process of staking involves requirements such as minimum staking amount, duration, slashing penalties, or cool-down periods. In IOTA, staking will work differently than in traditional Proof of Stake. The staking process is not inherent to the security of the network in its current form (this might change with future protocol upgrades). Instead, IOTA staking is a process whereby IOTA token holders can participate in the open distribution of any kind of new token. It is a mechanism to fairly distribute new tokens to a set of already existing, active users. One could also define IOTA staking as “rolling airdrops”. What are the IOTA staking rewards? The ...
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